Arm Holdings Shares Decline Following HSBC Downgrade Announcement

Following an HSBC downgrade, Arm Holdings` stock dropped more than 5%, sharply decreasing from a record high earlier in the month. The stock has retraced around 24% from its record close, indicating a pullback rather than a longer-term reversal. Key chart levels for support include $145,$117, and $79. A bars pattern that transports the bars comprising the stock\`s trending move between late April and early July to Monday\`s low projects a price target of around$275. Arm shares fell 5.1% during Monday`s regular session and lost another 0.8% to $140.25 in after-hours trading. Investors should watch three key levels where the price may attract buying interest:$145, $117, and$79.